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Palos Verdes Peninsula ( All Cities ) August 2012 Single Family Real Estate Market Report

The average number of properties listed for sale for the overall Palos Verdes Peninsula during the last 3 months is approx. 37% lower than the comparable period  last year. Single Family home sales for the overall Palos Verdes Peninsula Real Estate Market have improved and the average number of homes sold per month of 58 over the last 3 months is about 4% higher than the comparable period last year .
 
There are 59  homes in escrow at the end of August,  forecasting continuing strong sales over the next two months. 
 
 
 
 
 
 
       
  Aug. 12 Jul. 12 Curnt vs. Prev Month % Change Aug. 12 Aug. 11 Curnt vs. Same Month 1 Yr Ago % Change Jun. 12 to Aug. 12 Jun. 11 to Aug. 11 Curnt vs. Same Qtr 1 Yr Ago % Change
For Sale 164 175 -6.3% 164 275 -40.4% 176 279 -36.9%
Sold 57 47 21.3% 57 59 -3.4% 58 56 3.6%
Pended 59 61 -3.3% 59 58 1.7% 59 57 3.5%

The average price per sq. ft. for homes sold over the last 3 months of $471 per sq. ft.  is the same compared to the comparable period last year. . 

 

 

 
 
 
 
 
       
  Aug. 12 Jul. 12 Curnt vs. Prev Month % Change Aug. 12 Aug. 11 Curnt vs. Same Month 1 Yr Ago % Change Jun. 12 to Aug. 12 Jun. 11 to Aug. 11 Curnt vs. Same Qtr 1 Yr Ago % Change
Avg. Sq. Ft. Price 455 490 -7.3% 455 467 -2.7% 471 471 -0.1%

 

Based on the average monthly sales of 58 homes over the last 3 months, the current inventory of 163 homes for sale equates to a 3 months inventory

The average price of the homes sold on the Palos Verdes Peninsula during the last 3 months averaged  $1.4 million, up approx. 6% compared to the average price of homes sold in the comparable period last year, taking a large drop in February 2012, but then increasing  over the last 6 months. The average listing price for homes during the last 3 months of $2.2 million shows that the lower priced homes are selling faster than the higher priced homes. .

 
 
 
 
 
 
  Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago
  Aug. 12 Jul. 12 % Change Aug. 12 Aug. 11 % Change Jun. 12 to Aug. 12 Jun. 11 to Aug. 11 % Change
Avg. Active Price 2267 2236 1.4% 2267 2182 3.9% 2229 2111 5.6%
Avg. Sold Price 1375 1330 3.4% 1375 1306 5.3% 1382 1308 5.7%

Days on Market to sell a property has been averaging approx. 3 months, and properties are selling at approx. 92% of original list price.  

 
 
For other market reports for the Palos Verdes Peninsula, go to Market Reports on my website.

For more information about Palos Verdes and South Bay Real Estate and buying and selling a home on the Palos Verdes Peninsula, visit my website at http://www.maureenmegowan.com . I try to make this the best real estate web blog in the South Bay Los Angeles and the Palos Verdes Peninsula. I would love to hear your comments or suggestions.

Comment balloon 0 commentsMaureen Megowan • September 10 2012 02:24PM

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